$NVDA Although it's oversold, do you dare to buy the dip?
Nvidia has indeed fallen into oversold territory. Simply put, it dropped too sharply earlier, so a short-term rebound is due. Last night, the price suddenly bounced from its low, leaving a long lower wick. This shows that some buyers are still willing to step in below $167.
The price has now climbed back above $167, giving it some short-term breathing room. But there’s still resistance around $170, so breaking through easily won’t be a piece of cake.
More concerning is the moving-average resistance around $192. That level is still quite far away, which means Nvidia still has a long way to go before it can truly reverse its downtrend.
My view remains bearish on the rebound! Don’t rush to buy the dip just because the price has fallen a lot. First, see whether it can hold above $170. If it pushes higher but then gets knocked back down, be cautious of another pullback.
#韩国数字资产基本法预计1月初定稿 #比特币跌破200周均线
Nvidia has indeed fallen into oversold territory. Simply put, it dropped too sharply earlier, so a short-term rebound is due. Last night, the price suddenly bounced from its low, leaving a long lower wick. This shows that some buyers are still willing to step in below $167.
The price has now climbed back above $167, giving it some short-term breathing room. But there’s still resistance around $170, so breaking through easily won’t be a piece of cake.
More concerning is the moving-average resistance around $192. That level is still quite far away, which means Nvidia still has a long way to go before it can truly reverse its downtrend.
My view remains bearish on the rebound! Don’t rush to buy the dip just because the price has fallen a lot. First, see whether it can hold above $170. If it pushes higher but then gets knocked back down, be cautious of another pullback.
#韩国数字资产基本法预计1月初定稿 #比特币跌破200周均线
